Bitcoin disadvantages? | Bitcointalksearch.org

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legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

the biggest issue is scale-ability which is not yet solved even after all these years of argument over scaling issues. we keep hoping something happens, like SegWit being used or LN does something but the mempool keeps growing without anything happening Sad

Quote from: snipetr on December 09, 2017, 04:12:26 AM

- Government can be ban on bitcoin, and force merchants for not use it.

the whole point of bitcoin is that it is decentralized and nobody can ban it. saying government can ban something peer to peer doesn't even make sense. it is like saying they are going to ban torrent!

Vritesh

full member

Activity: 238

Merit: 100

Yes ,Bitcoin do have some disadvantages like it is not legal in many countries so many people are unable to use it.A lot of fluctuation is there due to it's volatile nature which gives a chance to many people to give negative comments about it .One disadvantage i think is that we can't use it directly,we have to convert it into some other form .If someone hacks our wallet or we loose our key to wallet then we have no chance to recover our money .

fanbeila

hero member

Activity: 714

Merit: 500

Quote from: lunaalthea on December 09, 2017, 04:00:02 AM

We all know the advantages of bitcoin, but I haven't heard the opposite side of bitcoin. Does BTC have any disadvantages???

One of the disadvantage of bitcoin is that it has not yet been accepted as a payment option in retail shops.Also,the congestion in transactions and even now almost 220,000 transactions are not yet confirmed.This feature also stops bitcoin from reaching the stage to be accepted as main stream of payment.

Saifher

full member

Activity: 126

Merit: 100

I think the main disadvantage right now is that its growing too fast! The capacity of the blockchain is not high enough to withstand this many people using it and transfering their funds. Whenever we are able to send tx's cheaply and fast again, then bitcoin will conquer the world.

vergel24official

member

Activity: 154

Merit: 16

- Prone to scammer and fraud. If you invest in a website offer to earn bitcoin and suddenly they will closed, there is no way to refund it.
- No refund in your bitcoin transaction unlike in credit card, what if you purchased some product online and the seller never deliver you can't refund through bitcoin.

Layonk

member

Activity: 210

Merit: 10

Quote from: snipetr on December 09, 2017, 04:12:26 AM

Some of the disadvantages of bitcoin are as,
- Government can be ban on bitcoin, and force merchants for not use it.
- Always there is fluctuation in value of bitcoin.
- As it is virtual cryptocurrency, it is totally depends upon internet. If in case internet get off then thats create major issue.
- Also there are chances of lost of wallet in case of viruses corrupt data or hard drive crashes and wallet file is corrupted.

I agree for 3 thing that you mention above as disadvantages of bitcoin.
In no2, always fluctuation of bitcoin value is double face depend of each people.
I mean fluctuation of bitcoin is advantage of bitcoin. Why? As trader i get profit because of the fluctuation.

J Gambler

hero member

Activity: 910

Merit: 500

Quote from: lunaalthea on December 09, 2017, 04:00:02 AM

We all know the advantages of bitcoin, but I haven't heard the opposite side of bitcoin. Does BTC have any disadvantages???

the biggest disadvantage is that you still feel unsafe and uncfortable on it especially when it undergoes a hard fork or that it has its lowest of lows. HOwever it kight also be hacked or just abruptly end and it is not something ohysical that you can hold on to

KevinHD

member

Activity: 232

Merit: 11

The biggest disadvantage of Bitcoin is that you can't secure your bitcoins. Its a cryptocurrency, which is intact exclusively only to technology, and can also vanish (corruption of data, virus, account theft, and internet shutdown). Because of we couldn't touch it yet can manipulate it, no one assures that it could last a lifetime.

Nellayar

full member

Activity: 868

Merit: 185

Roobet supporter and player!

There are many disadvantages of bitcoin like, if the government will manipulate bitcoin for sure it will become a great problem. Hackers and scammers also used bitcoin to fool people. Your money in bitcoin is in the air so if it will crash your money also fade. I wish that these advantages will not cause too much for the bitcoin and other altcoin to decline.

SUDARMONO

full member

Activity: 504

Merit: 100

bitcoin is the currency in use in the internet world, so the first bitcoin weakness is for those who do not understand or areas that are not reachable bitcoin will not be able to access it, and also the value of the ever-changing price becomes one of the risks and with high bitcoin prices transaction costs also go up.

poomwon

member

Activity: 63

Merit: 10

First of all, bitcoin is a constant 21 million, followed by bitcoin lost if lost, lost completely lost. Finally, as the user's bitcoin trade becomes cluttered, these are all significant drawbacks to bitcoin Cheesy

snipetr

full member

Activity: 294

Merit: 100

Some of the disadvantages of bitcoin are as,
- Government can be ban on bitcoin, and force merchants for not use it.
- Always there is fluctuation in value of bitcoin.
- As it is virtual cryptocurrency, it is totally depends upon internet. If in case internet get off then thats create major issue.
- Also there are chances of lost of wallet in case of viruses corrupt data or hard drive crashes and wallet file is corrupted.

lunaalthea

member

Activity: 98

Merit: 10

We all know the advantages of bitcoin, but I haven't heard the opposite side of bitcoin. Does BTC have any disadvantages???

Topic: Bitcoin disadvantages? (Read 271 times)